SHANGHAI, April 14, 2020 /PRNewswire/ -- OneSmart International Education Group Limited (NYSE: ONE) ("OneSmart" or the "Company"), a leading premium online education platform in China, today announced that it is enhancing its corporate value to conform with its strategy upgrade by the unveiling of its new "OneSmart Way", the framework of its corporate mission, vision and value. The new "OneSmart Way" incorporates the Company's strengthened commitment to upgrade into a prominent online education services provider and aims to build up the largest premium online platform backed by cutting-edge technologies. The new "OneSmart Way" has already been rolled out across its websites, online platforms, and offline operations to ensure the Company is well positioned.
The New "OneSmart Way" draws on the following corporate value:
New "OneSmart Way"
POWER LEARNING changes the future with technology advancement
To be the most trusted and heartful high-tech education company
New "OneSmart Way" highlights the corporate value that the Company is adopting to reinforce its leading position in the education sector by enhancing its premium services and executing its online strategy through online-merge-offline ("OMO").
Initiated in early 2018, OneSmart Online, the Company's online platform, is built upon deep understanding of online education and latest learning technologies. OneSmart Online now provides comprehensive class offerings and caters to incremental demand from a broader market. During the current fiscal year, OneSmart Online has been rapidly attracting incremental online users, and has achieved multifold growth on year over year basis and booked cash sales of over RMB 400 million since the outbreak of the pandemic till the end of March.
The Company has made substantial strategic investments into online education since 2015 including Yimi Online Tutoring, BestMath, UUABC, etc. As part of Company's continuing efforts to enhance the OneSmart Online platform, the Company recently announced it has entered into an acquisition agreement with Yimi, a leading premium online 1-on-1 tutoring company, whose technologies and products will add a key component to OneSmart Online. These demonstrate the Company's confidence in the fast-growing and prosperous online education market.
Mr. Steve Zhang, Chairman and Chief Executive Officer of OneSmart, commented, "We think it's important for people to understand our unique culture, value, strategy and operations. By realizing the full potential of OneSmart's transformative ability to drive innovation, we are determined to build a greater future for premium K-12 education in the decade to come. The new technologies that we have developed are greatly improving students' learning interest and capability. Benefiting from our investments in technologies and strong execution capabilities, we have made impressive achievements as we tackle with the pandemic crisis. We have always been optimistic about the online education market and we look forward to building on our outstanding track record under the guidance of our strengthened corporate value."
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. OneSmart may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about OneSmart's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: OneSmart's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to penetrate premium K-12 after-school education services market; diversify and enrich our education offerings; enhance the development and management of our teacher team and teaching materials; competition in our industry in China; its ability to maintain and expand online education presence; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect our students' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and OneSmart does not undertake any obligation to update such information, except as required under applicable law.
Founded in 2008 and headquartered in Shanghai, OneSmart International Education Group Limited is a leading premium online education platform in China. Our vision is to be the most trusted and heartful high-tech education company and our mission is POWER LEARNING changes the future with technology advancement. Our company culture is centered on the core values of customer focus, excellence, integrity, and technology and innovation.
The Company has built a comprehensive premium K-12 education platform that encompasses OneSmart VIP business (Premium K-12 1-on-1 training services), HappyMath (Premium math education programs), and FasTrack English (Premium English education programs). We also offer our comprehensive online classes through OneSmart Online, our premium online education services platform. As of November 30, 2019, OneSmart operates a nationwide network of 430 learning centers across 35 cities in China.
For more information on OneSmart, please visit http://www.onesmart.investorroom.com.
For more information, please contact:
Ms. Rebecca Shen
Phone: +86-21-5255-9339 ext. 8139
Mr. Christian Arnell
In the United States
Ms. Linda Bergkamp
SOURCE OneSmart International Education Group Limited